HRoark64

HRoark64

From top to bottom... -Losing the 21w moving average would suck! -$52k was a failed rally & lower high. -Green lines are potential support on the way down & prices to beat on the way up to resume the bull run. -MACD might cross negative. -Sell volume might break out. -Will update Sunday after close.

HRoark64

Great run the past few months but trees don't grow to the sky. It was great to see a close above 2017's high but now we'll need a close above that to continue the up move. Seems pretty unlikely since volume is weak (top right) and momentum is down (bottom right). Some potential retrace zones are highlighted around past support/resistance and they also line up...

HRoark64

Evening traders! In my last two posts I shared my thoughts on the down channel we were stuck in and the up channel that was beginning to form. The first pull back to $8300 kept us above the old and well inside the new. I’m long investment but waiting for a long trade. Here’s what I’m looking at… -strong daily close above the 200 SMA – bullish -market trading...

HRoark64

Evening everyone. In my last post I pointed out the $8900 resistance right underneath the 200 DMA and the convergence of the old down channel with newly forming up channel. Since then it seems the market has moved right along that path. IMO the market can ride the top of the old channel down to the bottom of the new one around $7600-7700 and still be in good...

HRoark64

Goooood morning traders. Here’s what I’m looking at for XBTUSD. -close above the 7 month down channel – bullish -lots of closes above the 50 daily moving average – bullish -rejection at resistance from last May – neutral; this rally needs a breather -200 daily average sloping down, price still under it – bearish -stochastic in nosebleed territory –...

HRoark64 Updated 

Afternoon everyone. New year, new shot at adhering to our own trading rules to build incalculable wealth. First order of business – learn something new. I’d like to thank @romilxrequiem for showing me a new way to use the MACD. This would’ve precluded at least half of my losing trades last year. Amazing that I ended up with the profit that I did without it....

HRoark64

Don't get overly excited about the rally or place bets on the low being in. -Price under the 200 - bearish -Price under the 20 - bearish -Stalled rally on the RSI - bearish -Unconfirmed rally on the MFI - bearish A close above the 20 EMA followed by upside breakout on the MFI would open my mind to a reversal taking place. Until then, look out below.

HRoark64

Last post on the 6th – The market has moved along the mid-line of the channel and appears to be taking the faster of my two predictions to the downside. A breakout above $7758 followed by $8379 will change my mind on the bearish bias. Big picture – A lot of the hot air has come out of the market the past six months. With the MFI & Stochastics well below...

HRoark64

Evening everyone. Remember this summer when we were all waiting for a little retracement, sideways trading, and back to the races? I almost had my lambo configured and I thoroughly enjoyed imagining how I’d tell my boss to kick rocks if I worked for a living. Aaaaand here we are six months later stuck in the same downward channel. Good to see some green...

HRoark64

Evening everyone. Back to my charts after a lengthy layoff. From top to bottom… -Swing low from last December to swing high of June gives us $7237 for a .618 fib. BTC fell under that and hasn’t closed back above. Bearish. -50 SMA is under the 100 & 200 SMA’s, 100 SMA is under the 200 SMA, and price is under all of them. Bearish. -Descending channel is well...

HRoark64 Updated 

Sorry for the late idea but just now got back to my computer to post. Long BTCUSD @ $7684 on the 1h chart. Notice the RSI & MFI indicators broke the mid-line to the upside and price closed above the 50 SMA buy/sell line. I was also on the lookout for this move thanks to the work of Dr. Charles Nenner. Highly recommend you check out his cycle research if you...

HRoark64

Morning everyone. From top to bottom... -50 SMA showing a public display of affection with the 200 SMA - bear -Trading under the 50 SMA buy/sell line – bear -Trading under the 200 SMA & not even testing it as resistance – bear -Previous support from May-June has become resistance at $7500 – bear -RSI below mid-line & pointing down – bear -MFI below mid-line...

HRoark64

Evening everyone. Quick bitcoin top to bottom… -Price is trading well below the 50 SMA = bearish -50 SMA crossed the 147 SMA which is roughly the 21 week SMA = bearish -50 SMA pointed solidly downward = bearish -Price is trading below the 200 SMA = bearish -MACD histogram is still red = bearish -MACD fast average still under the slow average =...

HRoark64 Updated 

Morning everyone. I decided to go short for what looks to be the last bit of downside before some more ranging or maybe a reversal going into the end of the year. I got in at $8140 with a downward cross on the 5RSI after the market bounced off the 50 SMA on the hourly chart. Initial stop was $8350, moved to $8250 last night. No target in mind; will trail with...

HRoark64

Top of the morning traders. Let’s take Sunday to put things into perspective. Lots of ideas out there based on previous price action, fractals, patterns, etc. Let’s use one indicator – just a plain old stochastic oscillator. I’m not saying to take trade entries or exits on this. Just consider your position – are you heavy on cash or crypto? Are you trading...

HRoark64

I think alt season is bullshit…for now. But not forever. Read on if you’re interested. Stop here and go buy alts if you’re gangster like that. I’m not here to burst any bubbles unless you’re pitching stocks, bonds, or real estate…in which case that’ll happen without my intervention. But let’s talk about alts for a minute. Lots of calls for alt season,...

HRoark64

$8,258 If you’re looking for a short entry on BTC this might be your chance. Price pulled back to the 9 & 21 EMA’s on the hourly and the RSI 9 EMA hit its head on the mid-line it needs to breach for upward momentum. If it turns down and price breaks the swing low of $8,258 you may be able to capture some downside. It’s where I’d enter if I wasn’t already short....

HRoark64 Updated 

So much for the Bakkt pump. Makes sense…it’s been in the cryptosphere for over a year now, so highly likely it was already priced in. Top to bottom: -the down trend line remains…down trendy -price is under the buy/sell line (50 SMA daily) as well as fast & not so fast EMA’s -5 RSI EMA is looking down like it dropped some money The good news is that this is...